Inquirer
China extends $201.8M in new infra loans to PH
The Philippines secured new loan agreements totaling $201.8 million from China for infrastructure projects, bringing total loan commitments to $1.06 billion.
These funds are allocated for the Priority Bridges Crossing Pasig-Marikina River and Manggahan Floodway projects.
During President Marcos' state visit to China, Finance Secretary Benjamin Diokno and the Export-Import Bank of China signed the four loan agreements.
Additionally, China has committed approximately $218 million for future projects through an economic and technical cooperation agreement.
This additional funding was earmarked for projects to be agreed upon based on the Philippine government's development plan and needs.
The agreements highlight a strong commitment between the two nations to enhance bilateral cooperation through infrastructure development.
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News Sources
See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
The Philippines and China signed 14 bilateral agreements during President Ferdinand Marcos Jr.'s state visit to China, covering areas such as agriculture, infrastructure, tourism, and trade.
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